Moody's cuts Infrastructure Finance

Moody's Investors Service said it downgraded the long-term national-scale issuer rating of Infrastructure Finance Corp. Ltd. to Ba2.za from Baa2.za and its short-term national-scale issuer rating to NP.za from P-2.za.

The outlook remains negative.

Moody's said its rating action and the continued negative outlook reflect the company's tight liquidity and funding constraints; its deteriorating asset quality and significant credit concentrations; and its weak earnings-generating capacity.

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